During a recent press briefing, Julie Kozack, Director of the Communications Department at the International Monetary Fund (IMF), emphasized the ongoing discussions regarding policy goals and actions aimed at establishing a medium-term home-grown reform program for Pakistan. This reform program is being considered for support under the Extended Fund Facility (EFF) arrangement with the IMF.
Kozack highlighted the objectives of the reform program, emphasizing the need to strengthen economic credibility through the consistent implementation of prudent policies. The goal is to transition Pakistan from economic stabilization to sustainable, inclusive, and resilient growth. She stressed that these efforts are essential for improving the standard of living for the people of Pakistan, which remains a primary focus of the ongoing program discussions.
Pl subscribe to the YouTube channel of the republicpolicy.com
Regarding the progress made in the discussions, the IMF official mentioned the recent mission to Pakistan and reiterated the continuation of deliberations on policy goals and actions necessary for the reform program. The IMF team’s visit to Islamabad in May 2023 signified a significant step in these discussions, with a focus on formulating a home-grown reform program tailored to Pakistan’s specific needs and circumstances.
In response to queries about prior actions and the budget for 2024-25, Kozack informed that the discussions between the IMF team and the Pakistani authorities are ongoing. She assured us that further information would be communicated as the discussions progressed, indicating a commitment to transparency and open dialogue throughout the process.
Furthermore, Kozack underlined the objectives of the 2023 Stand-By Arrangement (SBA) for Pakistan, emphasizing its role in restoring stability and laying the groundwork for sustainable growth. The overarching goal is not only to achieve stability but also to expand and prolong it, creating a solid foundation for enduring economic progress.
